Positive Pay Services. Check Issue Report. You will submit a Check Issue Report to Bank each day you issue checks on an Authorized Account through the Online Banking Service. The Check Issue Report shall accurately state the check number and the exact dollar amount of each check drawn on each Authorized Account since the last Check Issue Report was submitted. Payment of Presented Checks and Reporting of Exception Checks. The Bank will compare each Presented Check by check number and amount against each Check Issue Report received by Bank. On each Business Day, Bank: (a) may pay and charge to the Authorized Account each Presented Check that matches by check number and amount a check shown in any Check Issue Report; and (b) shall make available through the Online Banking Service by 8:00 AM Pacific Time an Exception Check List that indicates whether Bank has received any Exception Checks and, if so, specifies the complete check number and amount of any such Exception Check. Payment of Exception Checks; Return Requests. Bank will pay or return Exception Checks pursuant to your Pay/Return Request or pursuant to ONLY ONE of the following default selections: Return Default: If the Return Default Option is selected, Bank shall return to the depository bank any Exception Check drawn on the Account(s), unless Customer issues a timely Pay/Return Request to Bank. Pay Default. If the Pay Default option is selected, Bank shall pay and charge to the Account(s), any Exception Check drawn on the Account(s) unless the Customer issues a timely Pay/Return Request to Bank. A Pay/Return Request shall identify each Exception Check that you desire us to pay or return by the complete check number and amount specified in the Exception Check List and shall instruct Bank to pay or return the Exception Check. You must submit the Pay/Return Request to us via the Online Banking Service by 11:00 AM Pacific Time of the day the Bank makes the Exception Check List available. Bank shall then charge to the Authorized Account or return to the depositary bank any Exception Check that you instruct us to pay or return. We will not be obligated to comply with any Pay/Return Request received in a format or medium, after a deadline, or in a manner not permitted under this Agreement but may instead treat such a Pay/Return Request as though it had not been received.
Positive Pay Services. The processing of Check Issued Files and ACH Items (including but not limited to Exception Checks and ACH Exception Items) used to identify fraudulent checks and ACH items attempting to clear Authorized Account(s) enrolled under in this Agreement.
Positive Pay Services. If you are a commercial customer and choose to participate in our Positive Pay services, which are designed to help prevent check fraud, and you fail to utilize or follow the procedures required for those services, you will assume the risk that checks presented against your Account may be forged or altered, to the extent that the services we offered may have prevented any loss.
Positive Pay Services. If Customer elects to receive Positive Pay Services from Bank, Customer shall manually enter into, or import from Customer’s accounting system into, Bank’s online Cash Management System a file of checks issued each Business Day no later than 3:30 p.m. local time in New York, New York, or such time set forth in the User Guide, as amended from time to time. Bank or Bank’s third-party vendor will match all presented checks with at least the account number, serial number and dollar amount to determine if the check is valid and provide an electronic list of exceptions (the “Positive Pay Exception Report”) to Customer the following Business Day. Customer shall promptly review the Positive Pay Exception Report and provide a pay/no pay decision for all exceptions before the established Bank cutoff time of 2:00 p.m. local time in New York, New York, or such time set forth in the User Guide, as amended from time to time. In the event that Customer does not make a funding decision as to any exception item in the manner summarized above, Bank shall process the item based on the default decision selected by the customer, or Bank decision as policy may require. If there is a conflict in direction as to pay or not pay the item the item will be paid. Customer shall indemnify Bank against any loss, liability or expense (including attorneys’ fees and expenses) resulting from or arising out of Bank paying or returning any item as provided for in this Section II.C. This indemnification is in addition to any other indemnification rights that are provided for in this Agreement.
Positive Pay Services. This Section 6 sets forth the terms and conditions under which the Bank will provide Positive Pay services ("Positive Pay") to Customer. Positive Pay compares check clearing data provided by you each day against checks presented to us for payment. All presented checks matching the check number and dollar amount identified by you in your Positive Pay File will be paid and charged against the appropriate Account. Any item presented to us for payment that does not strictly match the data you provided in a Positive Pay File will be identified either as an "Exception" or "Violation" and will be handled by us as follows:
Positive Pay Services. We may provide Positive Pay Services to assist you with preventing forgery/fraud against your account. Positive Pay is considered an added feature and maybe required under a separate agreement. The Positive Pay Service may also be subject to additional fees. As a user, you agree to provide a primary user and one or more sub-user to maintain timeliness file deliveries, accuracy of the information contained within and to accept email notifications from us advising of exception items to be reviewed in connection with the service. You agree to upload an issued check file in a format agreed upon at the time of setup. File shall be loaded on the day of issue or before if applicable, but in any case prior to check presentment. If a manual check is issued and not included in the file upload, you agree to manually add the item into the system at time of issue. The bank is under no obligation to contact you and may refuse to accept check (s) presented to us which may not be included in your list of outstanding items. You agree to provide online access to users with the authority to review and make the necessary decisions on all exceptions submitted to you by us and as they may occur. You agree to make decisions on the exception item(s) by either marking them as Pay or Return before the allowable cut-off time. You acknowledge the bank has the right but is under no obligation to return the item(s) as “Refer to Maker” if a decision is not made by you within the allotted time. The bank will not be liable for any checks paid against your account as fraudulent, forged or otherwise if the exception item has been submitted to you and no decision is made by you or your sub-users on its disposition. We reserve the right to change the cut-off time by giving you notice of the new cut-off time by electronic means or by any other means deemed appropriate. Online cut-off time is 11:00 a.m. Central Time.
Positive Pay Services. The use of Internet Banking to reconcile items and to indicate to Bank whether checks presented against an Account should be paid or returned, pursuant to Bank’s Account Reconciliation Service Agreement. 2.29.
Positive Pay Services. Customer may select Positive Pay Services for checks and shall note its selection on the Designation Form. If Customer elects to receive Positive Pay Services from Bank, Customer shall manually enter into, or import from Customer’s accounting system into, Bank’s Positive Pay System, or otherwise transmit to Bank, directly or through a third party acceptable to Bank, in accordance with procedures specified by Bank from time to time, a file of checks issued each Business Day no later than the Bank-established cut-off time for issued items. Bank or Bank’s third-party vendor will match all presented checks with the account number, serial number and dollar amount to determine if the check is valid and provide an electronic list of exceptions (the “Positive Pay Exception Report”) to Customer the following Business Day. Customer shall promptly, but by no later than 12:00 p.m. Mountain Time, review the Positive Pay Exception Report and provide a pay/no pay decision for all exceptions. In the event that Customer does not make a funding decision as to any exception item in the manner summarized above, Bank shall return the item, and Customer waives all right to dispute the non-payment of the item. ACH Positive Pay Services. Customer may select Positive Pay Services for ACH transactions and shall note its selection on the Designation Form. If Customer elects to receive ACH Positive Pay Services from Bank, Customer shall manually enter into, or import from Customer’s accounting system into, Bank’s Positive Pay System, or otherwise transmit to Bank, directly or through a third party acceptable to Bank, in accordance with procedures specified by Bank from time to time, companies authorized to debit and/or credit Customer’s deposit account, with transaction amount limitations and effective/expiration dates. Bank or Bank’s third-party vendor will run each ACH file to identify ACH transactions that are suspects based on the authorized company records as provided by Customer and will provide an electronic list of pending suspect transactions (the “ACH Positive Pay Suspect Entries”) to Customer on each Business Day. Customer shall promptly, but by no later than 12:00 p.m. Mountain Time on the business day following receipt of the ACH Positive Pay Suspect Transactions, review the ACH Positive Pay Suspect Entries and provide a pay/return decision for all suspect transactions. Customer may also elect to allow a suspect transaction to post by authorizing a company for future ACH...
Positive Pay Services. Under our Positive Pay Service, you have three options.
Positive Pay Services. The Bank’s Positive Pay Service provides you with a means either, specifically or by default, to approve the payment of a particular check presented to us for payment or to object to its payment. Positive Pay is an anti-fraud service that protects your business from check fraud, letting you easily detect counterfeit and fraudulent checks. Positive Pay works by comparing an issued check file or an exception file to your records. Before your checks are released, you work directly with us to review items and to detect and prevent potential fraudulent activity. You acknowledge that the Positive Pay service is subject to the terms and conditions set forth in a separate Positive Pay Agreement executed with Bank as well as any requirements set forth in this Agreement.
